obtaining medium- and long-term financing for purchase of investment goods and services,

more favorable terms of credit in comparison to instruments offered by local banks,

reduction of performance risk - credit disbursements are made against presentation of documents accepted by the Importer,

possibility of obtaining funding of KUKE insurance premium,

deferral of contractual payments.

Basic terms:

Repayment period - depends on the Importer's country and industry - from 2 up to 12 years.

The Credit may finance up to 85% of the value of exported goods/services. Not less than 15% of the value of exported goods/services must constitute the Importer's own share and should be paid directly to the exporter ("Exporter") in cash as an advance payment, before commencement of contract.

The Credit is drawn after partial or complete fulfillment of contractual obligations by the Exporter. A disbursement is made to exporter's account, to debit of the Credit account, against presentation of commercial documents compliant with conditions of the export contract and the Credit agreement by the exporter. Disbursement is effected within 5 banking days from the date of presentation of the documents in BGK.

The Credit is repaid in equal installments and in equal periods of time, monthly, quarterly or semi-annually. The first installment is payable no later than 6 months from the date of the fulfillment of contract by the Exporter.

Cost of Credit:

interest (payable by the Borrower, that is the Importer's bank) based on:

fixed (during the whole period of financing) interest rate, namely the CIRR (Commercial Interest Reference Rate) rate (info available only in Polish) or

floating rate EURIBOR/LIBOR increased by a margin covering the liquidity risk of BGK

KUKE insurance premium - payable by the Borrower, calculated by KUKE individually for each Credit (payable by the Borrower)

legal costs - cost of a legal opinion confirming effectiveness of the concluded Credit agreement and/or the costs of providing and monitoring of potential collaterals (covered by the Borrower).

Scheme of financing:

How to obtain financing

An inquiry about the possibility of granting the Credit may be made by the Exporter, Importer and a potential Borrower (Importer's bank). Following information should be enclosed in the inquiry:

Exporter's name,

Importer's name, country and legal status,

name of the Importer's bank (for BGK to evaluate the bank as a potential borrower),

object of the export contract,

value of the export contract,

amount of the advance payment to be paid by the Importer, specifying mode of payment,

amount of requested Credit,

period of deliveries/performance of services,

expected period of repayment, frequency of repayments.

After analyzing the inquiry and upon receipt of a response from KUKE about possibility of providing insurance cover for the Credit, BGK responds to the inquiry. If granting of the Credit is possible, BGK submits an initial offer with the costs of the Credit.

In case of a positive assessment of the Importer carried out by the Importer's Bank in regard to possibility of granting a relevant credit to the Importer (on-lending of the Credit to the Importer), the Importer's bank (as the future Borrower) submits a formal credit application. The following documents should be enclosed in the application:

copy of the banking license, confirmed by a notary public,

copy of the bank charter, confirmed by a notary public,

audited balances and profit and loss accounts of 3 recent years (annual reports),

current list of shareholders.

Upon receipt of a positive credit decision, BGK provides the Borrower with a draft of the Credit agreement, negotiates its formulation and concludes the Credit agreement with the Borrower.

Simultaneously, BGK concludes the „Agreement with the Exporter". The aim of the Agreement is to inform the Exporter about terms of utilization of Credit, disbursement procedure and to define principles of mutual cooperation during period of disbursements and repayment of Credit.

Generally, the Credit may be utilized provided that BGK has received the KUKE insurance policy, a positive legal opinion, the Borrower's document confirming the terms of the Credit agreement, the payment from the Borrower of the insurance premium and the first part of the administration fee, as well as, confirmation from the Exporter about the receipt of the advance payment from the Importer.

After fulfillment of conditions of the first utilization of the Credit and after delivery of goods or performance of services, the Exporter presents to BGK commercial documents confirming that export has been effected. If the documents are compliant with the export contract and the Credit agreement, BGK makes a disbursement of the Credit within 5 business days counting from submission of documents and debits the Credit account held in BGK. Next, BGK sends the commercial documents to the Borrower, which are then dispatched to the Importer.

The product of PolandPrinciples of recognition of exported products and services as the "Product of Poland" are defined in the order of the Minister of Economy of 6th August 2001 (Polish Journal of Laws of 2001, No. 101, Item 1097) which indicates the maximum percentage share of the foreign content in exported final product, allowing product to be categorized as the "Product of Poland ".In general, foreign content may not exceed 50% of the value of exported product or service, exceptions are defined in the Order.

Bank Gospodarstwa Krajowego informs and makes hereby a restriction that no information published on the Bank’s website can be regarded as a conclusive offer accordingto civil law for any entity, and in particular an offer of any services, including bank services rendered to the users of BGK electronic services, i.e. Customers and Partnersof the Bank. These data have been published for information only.